LivaNova PLC Correlations

LIVN Stock

USD 35.40 0.55 1.53%

The current 90-days correlation between LivaNova PLC and Globus Medical is -0.05 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as LivaNova PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LivaNova PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

LivaNova PLC Correlation With Market

Average diversification

The correlation between LivaNova PLC and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LivaNova PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in LivaNova PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

To learn how to invest in LivaNova Stock, please use our How to Invest in LivaNova PLC guide.

Moving together with LivaNova Stock

0.88	DH	Definitive Healthcare	Pair Corr
0.75	VERO	Venus Concept	Pair Corr
0.82	DXCM	DexCom Inc	Pair Corr
0.72	VREX	Varex Imaging Corp	Pair Corr
0.83	ECOR	Electrocore LLC	Pair Corr
0.69	VVOS	Vivos Therapeutics	Pair Corr
0.72	EKSO	Ekso Bionics Holdings	Pair Corr
0.79	ELAB	Elevai Labs, Common	Pair Corr
0.91	ELMD	Electromed	Pair Corr
0.72	EMBC	Embecta Corp	Pair Corr
0.96	ENOV	Enovis Corp Sell-off Trend	Pair Corr
0.81	WORX	Scworx Corp	Pair Corr
0.65	FIGS	Figs Inc	Pair Corr
0.69	AMS	American Shared Hospital	Pair Corr
0.92	XAIR	Beyond Air	Pair Corr
0.7	AWH	Aspira Womens Health	Pair Corr

Moving against LivaNova Stock

0.83	CI	Cigna Corp	Pair Corr
0.39	FEMY	Femasys	Pair Corr
0.37	EHAB	Enhabit	Pair Corr
0.81	CHE	Chemed Corp	Pair Corr
0.8	BKD	Brookdale Senior Living	Pair Corr
0.68	CVS	CVS Health Corp	Pair Corr
0.63	COR	Cencora	Pair Corr
0.49	DGX	Quest Diagnostics	Pair Corr
0.44	CAH	Cardinal Health	Pair Corr
0.42	AGL	agilon health	Pair Corr
0.39	BAX	Baxter International	Pair Corr
0.31	ABT	Abbott Laboratories Earnings Call This Week	Pair Corr

Related Correlations Analysis

	KIDS	LUNG	SIBN	NPCE	GMED	OFIX	CNMD	ATEC	GKOS	FNA
KIDS		-0.31	0.06	0.17	0.25	0.28	0.29	0.05	0.18	-0.13	KIDS
LUNG	-0.31		0.26	-0.21	-0.47	-0.15	-0.57	-0.07	-0.42	0.33	LUNG
SIBN	0.06	0.26		0.5	0.54	0.72	0.29	0.75	0.44	0.22	SIBN
NPCE	0.17	-0.21	0.5		0.62	0.54	0.49	0.59	0.54	0.05	NPCE
GMED	0.25	-0.47	0.54	0.62		0.85	0.9	0.65	0.94	-0.48	GMED
OFIX	0.28	-0.15	0.72	0.54	0.85		0.76	0.61	0.85	-0.18	OFIX
CNMD	0.29	-0.57	0.29	0.49	0.9	0.76		0.4	0.87	-0.55	CNMD
ATEC	0.05	-0.07	0.75	0.59	0.65	0.61	0.4		0.47	0.06	ATEC
GKOS	0.18	-0.42	0.44	0.54	0.94	0.85	0.87	0.47		-0.54	GKOS
FNA	-0.13	0.33	0.22	0.05	-0.48	-0.18	-0.55	0.06	-0.54		FNA
	KIDS	LUNG	SIBN	NPCE	GMED	OFIX	CNMD	ATEC	GKOS	FNA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GKOS	+ 0.94	GMED
CNMD	+ 0.9	GMED
GKOS	+ 0.87	CNMD
OFIX	+ 0.85	GMED
GKOS	+ 0.85	OFIX
CNMD	+ 0.76	OFIX

High negative correlations

CNMD	- 0.57	LUNG
FNA	- 0.55	CNMD
FNA	- 0.54	GKOS
FNA	- 0.48	GMED
GMED	- 0.47	LUNG
GKOS	- 0.42	LUNG

Risk-Adjusted Indicators

There is a big difference between LivaNova Stock performing well and LivaNova PLC Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze LivaNova PLC's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KIDS	2.11	0.00	0.00	(0.19)	0.00	0.00	5.02	(3.90)	22.11
LUNG	3.30	(0.10)	0.00	0.55	0.00	0.00	6.22	(6.51)	41.39
SIBN	2.47	0.10	0.00	(0.09)	0.00	0.00	5.29	(4.36)	23.59
NPCE	3.31	0.29	0.05	0.01	4.03	(3.55)	6.67	(6.82)	17.98
GMED	1.46	(0.06)	0.00	(0.24)	0.00	0.00	2.80	(4.43)	8.53
OFIX	1.42	(0.12)	0.00	(0.29)	0.00	0.00	2.15	(2.99)	9.25
CNMD	1.86	(0.21)	0.00	(0.44)	0.00	0.00	3.52	(4.19)	13.79
ATEC	2.87	0.16	0.06	0.02	3.19	(3.20)	5.93	(5.59)	17.14
GKOS	2.71	(0.49)	0.00	(0.45)	0.00	0.00	4.98	(7.96)	24.99
FNA	0.86	0.33	0.41	1.97	0.60	(1.26)	3.77	(0.60)	8.63

LivaNova PLC Corporate Management

Lindsey Little	Director Relations	Profile
Natalia Kozmina	Chief Officer	Profile
Philip Kowalczyk	Chief Officer	Profile
Alex CMA	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC